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Billionaire Elon Musk Reaches Game-Changing $44 Billion Deal To Buy Twitter

CNN confirms that Twitter has decided to sell itself to Elon Musk, the world’s richest man in a whopping $44 billion deal.

Musk apparently made an offer to buy Twitter (TWTR) and take it private, believing that the company needs to be “transformed.” He recently purchased 9.2% of Twitter stock making him the largest shareholder in the company.

The mega-deal, which was reportedly approved by Twitter’s board, is expected to get finalised this year. Musk revealed last week that he has $46.5 billion in financing to acquire one of the world’s most influential social networks, which apparently forced Twitter’s board to seriously consider the offer. T

CNN confirms that under the terms of the deal, shareholders will receive $54.20 in cash for each share of Twitter stock they own, matching Musk’s original offer and marking a 38% premium over the stock price the day before Musk revealed his position in the company.

“Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Musk said in a recent statement. “Twitter has tremendous potential — I look forward to working with the company and the community of users to unlock it.”

Twitter stock was reportedly up by nearly 6% following the announcement of the mega-deal, floating around $51.84. The deal is pending approval from shareholders and regulators.

Editorial credit: Rokas Tenys / Shutterstock.com

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Billionaire Elon Musk Once Lived On Just $1 A Day

 

Do you think you have what it takes to sacrifice like a bonafide entrepreneur?

If you think you have what it takes, then try limiting your spending to just a dollar a day for an entire month- because that’s exactly what Elon Musk once did when he was a 17-year-old college student at Queen’s University in Kingston, Ontario.

Talking to Neil deGrasse Tyson in a 2015 interview on the podcast StarTalk he said, “My threshold for existing was pretty low… So I figured I could be in some dingy apartment with my computer and be okay and not starve.”

The CEO of SpaceX and Tesla tried this experiment to determine whether he could really live spending so little on food. Turns out, a $30 CAD monthly grocery budget was enough to get by.

“You sort of just buy food in bulk at the supermarket,” he stated, though he admits that “you get really tired of hot dogs and oranges after a while.” So he started getting into Pasta and green peppers as well.

Please note that this experiment happened a while back, and Musk warns against trying this experiment in this day and age. “I would not encourage anyone to live on $1 a day,” he told Business Insider. “That would not be super fun. Also, I did this back in 1990, so a dollar went a lot further back then. Would be much harder to do that today.”

Editorial credit: Kathy Hutchins / Shutterstock.com

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Elon Musk Becomes A Record $25 Billion Richer In Just One Day As Tesla Shares Soar

Tesla CEO Elon Musk just made another whopping $25 billion as Tesla joins the trillionaire club alongside other powerhouses such as Facebook, Google, Apple, and Microsoft.

The Tesla and SpaceX CEO is not just the richest person in the world but is also now worth as much as billionaires Bill Gates and Mark Zuckerberg combined.

According to the Bloomberg Billionaires Index, Musk’s net worth is sitting at $289 billion as of 26/10/2021, Gates sits in fourth place with $134 billion and Zuckerberg is No. 6 with $123 billion.

He was already the richest person alive, beating Amazon founder Jeff Bezos in September, but it looks like there are no signs of him slowing down anytime soon.

Last Monday, Hertz announced it was going to buy 100,000 Tesla Model 3 sedans to add to its rental car stockpile, causing Tesla’s share price to skyrocket.

According to the Herald Sun, Tesla stocks jumped by US$25.6 billion (A$34.1 billion), a rise of 13 percent, its biggest day ever.

The stocks were priced at $1,024.86 by market close and the company’s market capitalisation exceeded $1 trillion.

Hertz said in a statement that the first load of Tesla’s Model 3 sedans will be available to rent from Hertz in major US and European markets from early November.

“Electric vehicles are now mainstream, and we’ve only just begun to see rising global demand and interest,” according to Hertz CEO Mark Fields.

“The new Hertz is going to lead the way as a mobility company, starting with the largest EV rental fleet in North America and a commitment to grow our EV fleet and provide the best rental and recharging experience for leisure and business customers around the world.”

Editorial credit: Kathy Hutchins / Shutterstock.com